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Kelyniam Global Releases 2nd Quarter 2021 Financials Maintains Profitability - Covid Challenges Continue
Kelyniam Global Releases 2nd Quarter 2021 Financials Maintains Profitability - Covid Challenges Continue.
About this update from Kelyniam Global, Inc.
[{"type":"text","content":"\n\n\n\nKelyniam Global Releases 2nd Quarter 2021 Financials Maintains Profitability - Covid Challenges Continue\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nKelyniam Global Releases 2nd Quarter 2021 Financials Maintains Profitability - Covid Challenges Continue\nPR Newswire\nCANTON, Conn., Aug. 23, 2021\n\n\n\nCANTON, Conn., Aug. 23, 2021 /PRNewswire/ -- Kelyniam Global (OTC:KLYG), a maker of custom cranial implants, today announced results for its half year ended June 30, 2021.  \n\"Period comparisons for 2021 and 2020 are very difficult to evaluate due to the multiple effects of the Covid 19 pandemic in 2020.  The second quarter of 2020 results were uniquely affected due to a backlog of surgeries after the lifting of state mandated restrictions.  We have not seen a similar rebound effect yet in 2021. Despite ongoing surgery delays in 2021 due to the pandemic, Kelyniam continued to operate profitably during the 1st half of the year,\" said Ross Bjella, Kelyniam's CEO.  \nFinancial performance for the six months ended June 30, 2021 compared to the six months over the same period in 2019 includes:\nTotal revenue of $ 1,224,059 compared to $1,265,235, a decrease of 3.25% in sales revenue Operating income of $47,167 compared to $181,395 Net Income $5,544 compared to $184,567 over the prior yearThe complete financials can be found on the company's website at www.Kelyniam.com.\nEvents that significantly affected the quarter financially included:\nKelyniam will be issuing US GAAP-basis financials going forward associated with a new SEC rule on the submission of current financial information through the broker portal of OTC Markets. The Company was notified in early July that it's second balance of the Paycheck Protection Plan loan balance of $144,000 was to be forgiven. The accounting effects of this forgiveness will occur in the 3rd quarter.Pursuant to a previous set of FDA 483 observations in 2019, the Company was audited in July 2021.  While the Company successfully remediated several of the '19 findings, the pandemic created supply chain d...